I use the 4H Macd cross over trade Monday or Tuesday to see if I can catch a new trend starting at the beginning of the week. This pair crossed below the 0 level line which gave it momentum to finish it's downward fall to the 100 sma. The Macd histogram bars crossed below the 0 level line with longer momentum bars. Now we are waiting for price to break below the 100 sma and continue this week down toward the 800 sma. I am using the 800 sma as a TP but I will be watching the Macd blue line for direction. If it needs a break with a long pullback the Macd blue line will cross above the 0 level line or blue line will cross over above the red line and I will take some profit there. Price action, candle bars and Macd will tell me if I will re-enter if Macd blue line crosses back below the 0 level line or crosses below the red line.
Note
Price did break 100 sma and fell to .7037.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.